Singapore gets retail fund of hedge funds

DBS Asset Management launches absolute return fund.

The DBS Absolute Return Fund is the first of this asset class to be launched by the bank for the Singapore retail market and, DBS says, it will be followed by a series of alternative investment solutions for investors.

The fund will be managed by DBS Asset Management and will be offered to both retail and institutional investors in Singapore. The minimum subscription is either S$5000 for the capital guaranteed version or $S20,000 for the non-guaranteed option. The guaranteed version has a tenure of seven years.

US-based Ivy Asset Management will act as the fund's advisor. The fund will invest in 20 underlying managers, mainly long short equity managers but...

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